The Organization Of The Petroleum Exporting Countries The Organization of the Petroleum Exporting Countries was created at Baghdad Conference on September 10-14, 1960 by Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela. The Organization of the Petroleum Exporting Countries had its headquarters in Geneva, Switzerland in the first five years. It was then moved to Vienna, Austria on September 1, 1965. The objective of the Organization of the Petroleum Exporting Countries is to coordinate and unify petroleum policies among member countries, in order to secure fair and stable prices for petroleum producers. It was also created because of regular supply of petroleum to consuming nations and a fair return on capital to those investing in the industry. The Organization Of The Petroleum Exporting Countries Members
Algeria
Angola
Ecuador
Iran
Iraq
Kuwait
Libya
Nigeria
Qatar
Saudi Arabia
United Arab Emirates
Venezuela
The Organization Of The Petroleum Exporting Countries Purpose/Goals/Objectives
The Organization of The Petroleum Exporting Countries purpose is to restrict the amount of oil produced. By doing this it makes sure that it receives a high price for its oil by only selling at the quantity where marginal cost equals marginal revenue. The goal of the Organization of the Petroleum Exporting Countries is to promote cooperation and close ties between the members in economic activities related to the oil industry. It also wants to determine ways of safeguarding their legitimate interest. They also want to unite their efforts so as to ensure the flow of oil to consumer markets on equitable and reasonable terms. The Organization of the Petroleum Exporting countries objective is to coordinate and unify petroleum policies among the member countries to secure fair and stable prices for petroleum producers.
The Organization of The Petroleum Exporting Countries Structure/Hierarchy/Subdivision
The structure of The Petroleum Exporting Countries are OPEC Conference, The Board of Governor, The Ministerial Monitoring Committee, The Economic Commission Board, The Secretary General, The General Secretariat, Legal Office, and Internal Auditor. The Subdivision are Research division and departments of data services, petroleum studies, Energy Studies, and public relations and information. The Hierarchy of the Organization of The Petroleum Exporting Countries depends on the subdivisions and there roles.
Advantages and Disadvantages Of The Petroleum Exporting Countries
The advantage of the Petroleum Exporting countries is that they control the price of the oil. The way they are able to do this is by talking to the Middle East and other countries where most of the oil is imported from. The disadvantage of The petroleum Exporting Countries is that as there short term plans has caused a continuous stream of fluctuations in oil rates and often dramatic rises in these prices.
The Petroleum Exporting Countries Challenges/Local diversity
The Petroleum Exporting Countries challenges the local diversity of different countries because they control the petroleum. They are the ones that control the price of the oil. This affects many countries all over the world because they depend on the oil, but it's expensive.
The Organization of the Petroleum Exporting Countries was created at Baghdad Conference on September 10-14, 1960 by Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela. The Organization of the Petroleum Exporting Countries had its headquarters in Geneva, Switzerland in the first five years. It was then moved to Vienna, Austria on September 1, 1965. The objective of the Organization of the Petroleum Exporting Countries is to coordinate and unify petroleum policies among member countries, in order to secure fair and stable prices for petroleum producers. It was also created because of regular supply of petroleum to consuming nations and a fair return on capital to those investing in the industry.
The Organization Of The Petroleum Exporting Countries Members
The Organization Of The Petroleum Exporting Countries Purpose/Goals/Objectives
The Organization of The Petroleum Exporting Countries purpose is to restrict the amount of oil produced. By doing this it makes sure that it receives a high price for its oil by only selling at the quantity where marginal cost equals marginal revenue. The goal of the Organization of the Petroleum Exporting Countries is to promote cooperation and close ties between the members in economic activities related to the oil industry. It also wants to determine ways of safeguarding their legitimate interest. They also want to unite their efforts so as to ensure the flow of oil to consumer markets on equitable and reasonable terms. The Organization of the Petroleum Exporting countries objective is to coordinate and unify petroleum policies among the member countries to secure fair and stable prices for petroleum producers.
The Organization of The Petroleum Exporting Countries Structure/Hierarchy/Subdivision
The structure of The Petroleum Exporting Countries are OPEC Conference, The Board of Governor, The Ministerial Monitoring Committee, The Economic Commission Board, The Secretary General, The General Secretariat, Legal Office, and Internal Auditor. The Subdivision are Research division and departments of data services, petroleum studies, Energy Studies, and public relations and information. The Hierarchy of the Organization of The Petroleum Exporting Countries depends on the subdivisions and there roles.
Advantages and Disadvantages Of The Petroleum Exporting Countries
The advantage of the Petroleum Exporting countries is that they control the price of the oil. The way they are able to do this is by talking to the Middle East and other countries where most of the oil is imported from. The disadvantage of The petroleum Exporting Countries is that as there short term plans has caused a continuous stream of fluctuations in oil rates and often dramatic rises in these prices.
The Petroleum Exporting Countries Challenges/Local diversity
The Petroleum Exporting Countries challenges the local diversity of different countries because they control the petroleum. They are the ones that control the price of the oil. This affects many countries all over the world because they depend on the oil, but it's expensive.
Citations
http://www.blurtit.com/q2002766.html
http://en.rian.ru/infographics/20100317/158226529.html
http://www.jewishvirtuallibrary.org/jsource/US-.../opec.html
http://www.arab.de/arabinfo/opec.htm
http://library.thinkquest.org/26026/Economics/o..._expo.html
http://www.opec.org/opec_web/en/about_us/25.htm
http://www.opec.org/opec_web/en/about_us/24.htm